Tech901
- Assets
- $1.7m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 9
- Location
- Memphis, TN
- Founding
- 10/2015
- Data as of
- 12/2023
- EIN
- 47-4244246
Organization Overview
Tech901 is located in Memphis, TN. The organization was established in 2015. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 12/2023, Tech901 employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tech901 is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Tech901 generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 25.1% each year . All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 23.3% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TECH901'S MISSION IS TO TRAIN INDIVIDUALS FOR A VARIETY OF INFORMATION TECHNOLOGY JOBS AND TO WORK WITH EMPLOYERS TO INCREASE THE MEMPHIS TECHNOLOGY JOB BASE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TECHNOLOGY TRAINING TO INDIVIDUALS IN ORDER TO ENHANCE THE TALENT BASE FOR TECHNOLOGY JOBS WHILE PROVIDING AWARENESS TO MEMPHIS AND MID-SOUTH BUSINESSES OF THE ENHANCED TALENT POOL. ESTIMATED CLIENTS SERVED 300.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Marino President | OfficerTrustee | 2 | $0 |
David Harris Secretary | OfficerTrustee | 2 | $0 |
David Montague Treasurer | OfficerTrustee | 2 | $0 |
Jennifer Krouse Director | Trustee | 2 | $0 |
Charles Elliott Director | Trustee | 2 | $0 |
Michelle Epps Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $500,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,264,595 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,764,595 |
| Total Program Service Revenue | $79,086 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,843,681 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $288,948 |
| Compensation of current officers, directors, key employees. | $19,243 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $555,975 |
| Pension plan accruals and contributions | $7,202 |
| Other employee benefits | $108,832 |
| Payroll taxes | $56,854 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $61,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $56,844 |
| Advertising and promotion | $77,855 |
| Office expenses | $13,598 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $150,235 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,292 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $48,125 |
| Insurance | $10,221 |
| All other expenses | $948 |
| Total functional expenses | $1,531,850 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $729,137 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $75,497 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,419 |
| Net Land, buildings, and equipment | $536,263 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $370,793 |
| Total assets | $1,713,109 |
| Accounts payable and accrued expenses | $12,854 |
| Grants payable | $0 |
| Deferred revenue | $35,819 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $368,070 |
| Total liabilities | $416,743 |
| Net assets without donor restrictions | $1,220,869 |
| Net assets with donor restrictions | $75,497 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,713,109 |